ESG significant in G20 agenda, will pave roadmap for sustainable future: Law Minister at ICMAI ‘Global Summit 2023’

ESG significant in G20 agenda, will pave roadmap for sustainable future: Law Minister at ICMAI ‘Global Summit 2023’

ESG significant in G20

New Delhi, 17th July 2023: Exuding confidence that an ESG (Environmental, Social, and Corporate Governance) will pave the way for India’s sustainable development by 2047, Union Law Minister, Shri Arjun Ram Meghwal today said that the strategy has a significant place in India’s G20 agenda. He said that while the Government’s Azadi Ka Amrit Mahotsav commemorates 75 years of India’s independence, innovative and new-world strategies like ESG will decide where India will stand after 25 years (in 2047) when the country will celebrate 100 years of independence.

The Union Minister was speaking at the ‘Global Summit 2023’ hosted by the Institute of Cost Accountants of India (ICMAI) at Manekshaw Centre in New Delhi. The two-day event, which ended today, was organized on the theme “Unlocking Sustainability: G20 Presidency Paves the Way for an ESG-driven New World Order”. The summit focused on India’s G20 presidency theme of “Vasudhaiva Kutumbakam” or “One Earth, One Family, One Future”, while exploring the ESG strategy to achieve the same.

Shri Arjun Ram Meghwal, Union Minister for Law and Justice, and Chief of Guest at the event, said “ESG is being discussed in G20 a lot. While Azadi ka Amrit Mahotsav marks our 75 years of journey of independence, G20 elements like ESG will decide the roadmap of the country’s future after another 25 years, in 2047. This is a very appropriate time when we are having such valuable forums on this new concept as India is at the helm of the G20 presidency. If we carefully consider our own ancient culture, then it has always promoted sustainability practices in subtle ways through rituals and festivals.”

CMA Vijender Sharma, President, ICMAI, said, “Our institute is helping the farmers to progress, in line with the Prime Minister’s ambition of double-digit growth for them. We are doing this in the form of providing a diploma in cost accounting for farmers and have also signed an MoU with IGNOU recently. We are also glad to inform that ICMAI is helping the Indian Army, Indian Air Force and Indian Navy. We have especially helped the Indian Army to help the officers and other ranks to rehabilitate them when they get superannuated, through our cost accountancy course.” The ICMAI President also expressed a vote of thanks to the Union Law Minister for launching the ICMAI International ADR Chamber.

Hon’ble Chief Guest inaugurated ICMAI International ADR Chamber, A section 8 company under the Companies Act, 2023, promoted by the Institute of Cost Accountants of India (ICMAI).

On the opening day of the event yesterday, Dr. Subhas Sarkar, Hon’ble Union Minister of State for Education, had graced the event virtually as the Guest of Honor. Other dignitaries present were Lieutenant General Samir Gupta, Vishisht Seva Medal (VSM), Director General, Financial Planning, Indian Army, and Shri Atul Sobti, Director General, Standing Conference of Public Enterprises, (SCOPE).

ICMAI is a statutory professional body established by a special Act of Parliament for the regulation and development of the profession of Cost and Management Accountancy. The Institute is under the administrative control of the Ministry of Corporate Affairs, Government of India.

Pertinent to mention here that India’s G20 theme is in line with the Prime Minister’s vision of minimum government and maximum governance; inclusive growth & social transformation; energy transformation; achieving net zero & environmental sustainability; Green Mobility – Surface, Air, and Ocean; Green Finance; ESG (Environmental, social, and corporate governance) and Business Responsibilities.